Holding 'core' shares at loss...some tiny amounts of precious metals stocks for many, many years.
For CDE, planning to add as low as possible.
Goldman (if I remember correctly) comment CNBC this AM ... precious metals to have difficult year in 2014.
The economic numbers are hugely manipulated, in my opinion, at least so far as what is given for public consumption via the media...so my opinion is that gold and silver will again find buyers at some point. CHINA is buying while many others are selling. China tends to have an extremely long term view, as I do for my CORE shares.
I may take partial profits for 'additional shares' or sell to prevent loss (if I have added too soon), but the added shares (for stocks not in a decline) MAY have been held for YEARS. I intend to hold some shares of DNDN CYTX PRAN indefinitely. I repeat, I hold some tiny 'core' share quantities of precious metals stocks for many, many years...BUT it would be foolish to add larger amounts and HOLD through a downtrend. I've added...for potential longer term hold...but the technicals are not yet indicating a clear bottom for the precious metals...AND in fact have shown extreme danger, except for short term trades. I have repeatedly expect a bottom, as have many other precious metals investors.
I too have losses in CDE and have often been disgusted with management actions, but my strategy is to recoup any losses in CDE and elsewhere and ALSO to make profit for my family.
Originally, the ONLY way I would even have considered investing was extremely long term (lifetime) buy and hold. It took a great deal of analysis for me to realize market manipulation (and individual problems with certain companies) could eat up all profits for a family...and that I had a RESPONSIBILITY to learn how to beat 'em at their own game. Some share trading of heavily moving stocks and/or options trading is the only way to beat 'em CONSISTENTLY...over long timeframes...since 'they' will tank markets,etc. Agape
I second your motion!
Show us the money (translation: show us a profit)
Long CDE means you are invested in a company and hold shares for more then 12 months or more. Long CDE means you are not pumping about other penny stock companies on a CDE message board.
Long CDE means you have been invested in a company whose mgmt team have not increased the value for shareholders since the reverse split and you have the RIGHT to be upset. Long CDE means you have a hard time understanding why the Silver miners have not joined together to put an end to this so call silver price manipulation if it's true. Long CDE means that when the stock goes from $35 to $10 that you don't feel good this Morning and LONG CDE doesn't mean that a Daytrader has held the stock for more then 5 minutes. IMHO due your own DD. This is not a buy or sell reccomendation.
CDE management has to demonstrate that it can make a profit at Kensington.
Production in a "safe" location with great resource base is great.
The question remains whether they can make a profit with the higher labor costs and logistical challenges.
All-in costs are just some people talking.
The ONLY thing that matters is a positive net margin that is in line or exceeds the other silver producers.
nice to have a paid for permitted built mine in Alaska just as insurance-some interesting past expenses dom and dock better than a hidden 10%tax for security-nice having a million oz's in a safe vault in Alaska just in case
An additional bullish factor:
At least two NEW basher/naysayer/stalker types appeared on the message board in recent months.
Both attack and smear those who are long term bullish on silver and gold and do include or sometimes include CDE among the miner shares they purchase. Stahlz, edmundaronson, me and even geomessenger
are 'called out' as being inherently evil...and our posts regarding even the most objective factual information, such as insider buying, receive negative recs. One poster incessantly implies at least 3 other posters and I are the same person. Stahlz posted clearly he has sold CDE shares. Geo probably also holds none, based on his posts. I have been highly critical of management of CDE for YEARS. I post that AMONG MY PICKS for long positions are potential TURNAROUNDS...and that there are reasons to support an expectation of an EVENTUAL turnaround in CDE. Timing THAT is difficult and I've posted my efforts. I was about a year or more early in trading bounces in ocean shipping and in solar, but both eventually made spectacular moves. In solar, I mentioned FSLR and SPWR as being among the strongest. Have been multibaggers for those who purchased. NOT a rec NOW and was not a rec then. Was an attempt to suggest that one might trade INTO bottoming stocks/sectors on the long side IF one wanted to find a way to do so...by trading bounces.
With precious metals falling for such a significant timeframe this time, I've also attempted to trade bounces into LONG positions...and have found that the moneyflow, technicals and fundamental information do not support HOLDING the added shares YET, tho the REVERSAL COULD OCCUR AT ANY TIME...so I want to be holding at least a small position and/or setting up options accordingly. If I add SHARES, I immediately sell the added shares if a trade moves against me, as it did today. I have done this and posted this method for many, many, many years. Typical trading strategy. The smears...manipulators. jmo
it would be interesting to see what cde's all in could do by cutting its large exploration budget'
So why don't we look at past history and focus on all in cost for just Kensington?
This troubled property cost shareholders plenty. After a joint venture with Echo bay in 1987 which Coeur ponied up 150 million Coeur took full control in 1995. After 15 years of dead money former spokesman Tony Ebersole had this to say :The Kensington Gold Mine cost over $400 million. The total cost included capital, taxes and employee wages and benefits.
“The operating cost per ounce is estimated to be, over the life of the mine, about $490 per ounce,” Ebersole said. “So of all the $490, there would be a profit.”
Obviously a miss there eh, Tony? What about 20 some years of carrying costs and Supreme court litigation, and pasting the tailings, and building dormitories, and building ferry landings and the costs of the ferry and 200 some employies at 67k / yr and so on etc. We could probably see $3000/oz gold and Kensington would not see a profit based upon "all in" costs.
And just what are the details of that China deal anyway, uh?
All in cost through out all of Coeur's properties will probably never see the light of day for the average retail investor. The Street has a good idea, however and that's why is priced like it is.
she was exposed as a fraud long ago, but keeps coming back. she is only here because she has to be. i'm sick of these trolls on yahoo, they never quit, but honest folk try to help the newcomers/lurkers on the board.
Have never stated I bought puts. Never.
Your little 'joke' that I am 4 or 5 other posters is growing stale, along with your slander regarding what I have posted and have not posted.
You are a short 'disguised' as a disgruntled long, stalking half a dozen posters on this message board, claiming we are all the same person, giving a negative rec to all of us who have a bullish stance over the longer term for silver and for CDE. Then you suddenly comment about your shares and your loss. Good grief. You appear to be a manipulator and a trouble maker, like some of the other basher/naysayers who post relentlessly about CDE's price falling or PAST errors of management. May or may not git better...
THERE IS MORE INSIDER BUYING for CDE. Insidercow website shows it graphically...4 buys, no sells.
There is a comment by management that the (relentless) expansion and (therefore) dilution is coming to an end
with an emphasis on GENERATING STRONG RETURNS...a NEW FOCUS...rather than primarily on growth...
PLUS a huge share buyback.
NOT entirely negative.
As for the drop in gold and silver...it was expected due to the weak technicals AND to latest FedSpeak...re tapering.
Personally believe miners are close to lows.
If one had purchased FSLR at 20, instead of 11, one will still be very green. I expect that an 'add' at these levels (10's, 11's) will also eventually be very green for CDE, but I'm picky about my 'adds' if I can find something BETTER...with higher probabilities regarding either direction and/or percentage of gain. Today's profits (and sideways moves) will be added to a biotech I mentioned in recent months. I like to trade 'around' future multibaggers. I believe many silver stocks (and biotechs and nat gas stocks) will be multibaggers. I was correct about that when silver was trading in the 5's and moved to 40's. I was correct about solar, ocean shipping & uranium, PRAN DNDN also.
Profit for Good Causes.
My previous CDE 'add' was low 11's for the summer bounce. I posted the 'add' and the fact that I sold too soon into the upmove, not trusting it. Was correct not to trust the move, but did not gain all I could have. I prefer to find trades that have greater clarity. Trading bounces as a stock is falling is NOT the typical way to accumulate long shares. It is not something I recommend. NOR do I recommend CDE or any other stock/industry/sector/country/index, etc.
My recommendation is that each do independent DD and analysis, including unusual and thorough searches (such as use of zerohedge and shadowstats and heritage and cato to COMPARE with what is spouted as truth by the lamestream media). Also recommend including technical analysis, one's OWN (not mine) and perhaps comparing to some of the guru folk (see kitco and many other sources).
Since I expect silver will eventually be up exponentially, I DO attempt to add to silver stocks (or rebuy) from time to time, as they fall. As I posted repeatedly, have been hugely overweight among the biotellchs, especially into the recent bounce for PRAN and for DNDN, which I also expect to be multibaggers for me. First mentioned PRAN is the 2's...now trading in the 3's 4's 5's and 6's. DNDN ... I consider it an 'accumulate' on pullbacks (on sell some into upmoves). JUST my opinion. NOT a rec to buy/sell/hold...only to think independently...and to diversify wisely. Find your own method. Don't be the stalker/complainer on the message boards. Be proactive, reasonably cautious, joyful...overflowing with Peace and Agape~
Peace Prudence Agape~
Oh yeah nice backtracking ..Of course you traded out. and I am sure you bought puts at the right time. Everytime you say up CDE goes down..very interesting pattern!
Nat gas may pull back some after today's heavy upmove.
CCJ may possibly test higher (see options trading also), but I sold 4/5th of holdings. Mentioned I believed it was worth accumulating (again, my 3rd trade, at various level from the bottom) in the 18's.
Have had excellent moves in my other u stocks as well. Nuclear reactors can be the safest and most reliable
of all energies...and also environmentally friendly ... IF common sense guidelines are followed. Was not done at Tepco (despite gov recommendations), nor was it done even vaguely at Chernobyl. MUST use logic and prudence.
Peace Energy Agape~
Retest of mid 10's must hold. Traded out of additional shares, since there is greater clarity elsewhere, tho I still believe the miners may have bottomed, while gold and silver may have sudden excruciating test lower...which I expect will be snarfed up rapidly as a buy opportunity.
Still holding my original shares, which are at loss, even with some successful trades (not this one...sold at about break even).
Peace Strategies Agape~
Long post was deleted. Explained my reasoning that we are (again) overdue for at least a bounce, EVEN IF gold and/or silver test lower later.
Not sure that will occur, despite what countries/banks may be doing.
GLD SLV look very weak technically, but the miners themselves are showing some signs of strength...or at least holding pattern with potential bounce.
Will post reasoning separately, since apparently my concerns about increasing global dangers and coming new weakness in US economy (along with sleight of hand with economic number 'systems' to make things 'appear' so 'nice'). See shadowstats, zerohedge, and many think tanks that look for reality, instead of attempting to obfuscate.
En plus, Thanksgiving weekend is coming and I do not believe shorts want to hold down gold over a longer timeframe during which almost anything (sadly) could occur.
If I'm wrong, I'll sell my added shares, but so far, so good, at least for a trade.
NOT overweight in precious metals at this time. Have NOT yet re-accumulated all miners in which I am interested, much less the number of shares I held for previous (summer) bounce.
2nd attempt to post at least some of my reasons for holding SOME long shares (and would NOT be short miners at this point).
Profit for Good Causes
Just found this - it is confirmed! Venezuela is selling off gold.
Venezuela reported planning to pawn its gold through Goldman Sachs
Submitted by cpowell on Tue, 2013-11-19 18:33. Section: Daily Dispatches
1:34p ET Tuesday, November 19, 2013
Dear Friend of GATA and Gold:
The Venezuela newspaper El Nacional, the voice of that tortured country's political opposition, reports today in the story appended here that, after triumphantly repatriating its gold reserves two years ago, Venezuela has sunk so much economically under its predatory socialist regime that it will raise cash by pawning its gold through Goldman Sachs.
That gold almost surely will be delivered by Goldman Sachs to the use of the Western central bank gold price suppression scheme.
Presumably Venezuela's friend China could have bid directly for the gold and apparently didn't, maybe suggesting that China may be glad of the resulting discounting of gold on the international market, especially since the Venezuelan gold well may end up in Beijing anyway after nicekly knocking prices down in its travels.
The translation below, done largely by Google Translator, is far from perfect but may convey the idea well enough.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Venezuela's Central Bank to Trade Gold with Goldman Sachs
By Vera White Crocus
El Nacional, Caracas, Venezuela
Tuesday, November 19, 2013
Venezuela's Central Bank and Goldman Sachs are ready to sign an agreement to swap or exchange international gold reserves, with a start date in October, as stated in the contract, and until October 2020.
The dip in gold is here. Gold needs to hold above $1250 or we may see a new wave of selling. I have been watching the gold trading action very closely over the last two weeks and a big player is selling every rally hard. During this last move from $1360 area to $1250 area has almost no rallies of consequence. There should have been some greater bounces along the way.
I have zeroed in on Venezuela as the culprit. The Chavez regime hated the American gringo so much that they decided to move all their foreign currency reserves out of dollars. As a result, they moved 70% of their reserves into gold over the last 8 years and last year moved the gold away from prying eyes back to Venezuela (they also did this to move assets from any claims due to nationalization lawsuits). Venezuelan economy is now in shambles. Exchange rate went from 6 to 1 and is now 60 to 1 and inflation is running at over 55%. When gold collapsed from $1900 to $1200 the lost their ability to defend their currency. They have taken out advances on oil sales from China, but they need much more. Elections are next month and goods are scare because of the lack of foreign currency (they import 70% of all goods). With oil now down too, this causes them to start selling. Its a typical socialist maneuver - you need to raise cash and fill the shelves with goods before every election. Remember, Venezuela is the 14th largest holder of gold holding over 356 tons. If they are selling now, any move down breaking support could prove explosive.
You know my stance: if you hold gold assets you better have PUTS in place because it could get ugly. I see too many warning signs out there.
Faint Praise indeed. I myself will be buying some March Calls over the next month as the price dips below $11 with the end-of-year tax selling. Easy money.
Sentiment: Strong Buy
resistance at 3...fell back 2.98 as expected...dunno...You guys short, I buy more...
Not a rec either way...Longer term, huge up, imo.
Best to you and to Fr. Groeschel, who is a friend to traders with big hearts.
Peace Professionalism Agape~